Fifth Third Bancorp Has $2.05 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

Fifth Third Bancorp lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,241 shares of the company’s stock after acquiring an additional 4,439 shares during the period. Fifth Third Bancorp’s holdings in Coterra Energy were worth $2,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the period. Czech National Bank raised its stake in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after buying an additional 9,115 shares during the period. Bourgeon Capital Management LLC grew its stake in Coterra Energy by 107.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after acquiring an additional 122,487 shares during the period. Hartford Funds Management Co LLC bought a new stake in shares of Coterra Energy during the third quarter valued at approximately $575,000. Finally, M.E. Allison & CO. Inc. acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $217,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Down 4.1 %

CTRA stock opened at $27.82 on Tuesday. The stock has a fifty day moving average of $26.46 and a 200-day moving average of $25.10. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.65 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. Coterra Energy’s payout ratio is 50.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTRA. Stephens boosted their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Scotiabank lowered their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley lifted their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Truist Financial upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.18.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.